Paul Shayegan: I am a newbie here and searched through the forum and the indicators on the market and could not find what I was looking for hence decided to ask for help. I appreciate your time in advance.

Do you happen to have / seen an indicator for MT4 that marks a swing High / swing Low with adjustable criteria as below:

1- allows to specify the number of past bars it looks for higher high separately

2- allows to specify the number of future bars it looks for higher high separately

i.e. shows a blue circle on top of a bar which has a higher high than the past 3 bars and the next bar after.

icing of the cake if it could be set-up with a custom alert each time a new matching cretieria occurs.

The most well know indicator for marking the Swing points is the typical ZigZag indicator. If you wish to learn a little more on how it works, try my ZigZagZug which shows how the depth and breakouts are used to produce the ZigZag:

The ZigZag Indicator is one on those indicators, that at a misleading first glans, seems to be the "Holy Grail" of all indicators for finding the Tops and Bottoms for set-ups like Swing or Trend Following strategies. Quite often, newcomers tend to be totally amazed by it, believing that with it, they cannot go wrong. In reality however, nothing...

The most well know indicator for marking the Swing points is the typical ZigZag indicator. If you wish to learn a little more on how it works, try my ZigZagZug which shows how the depth and breakouts are used to produce the ZigZag:

Be aware that the standard ZigZag "repaints", so keep that in mind when using it. Make sure to read the introduction and description of my ZigZagZug so that you understand the shortcomings of the standard ZigZag.